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Gavb77
Starting Member
United Kingdom
4 Posts |
 Posted - 19 June 2012 : 14:30:33
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Hi there,
I have my court meeting on Thursday morning (scared but feel ok with this i think!) and nervous about the OR interview, but i have a question about later on - If i get an IPA will I still be discharged after 12 months and then carry on the terms and paying for the IPA or will the discharge take 3 years?
I've finally got my head around going bankrupt after a faled IVA due to redunancy but dont fancy being tied down again for three years, would like to think i would still be discharged after the 12 months and then just pay the IPA for the rest of the time! 
I dont know yet whether i would even end up with an IPA as my income and outgoings are near enough matched but they may not allow some of my expenditure, even tho its within guidelines! lol, so i'm probably jumping the gun but just nice to get some views  |
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year 2029
Average Member
590 Posts |
Posted - 19 June 2012 : 14:44:59
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Hi Gavb77 and welcome.
Its nowhere near as daunting as it sounds.
You are correct in that an IPA if you get one will usually last 36months from when it is instigated, (which has to be within your 12month BR), with you still getting an automatic discharge from BR 12months after your court date.
Hope this helps, and good luck.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 June 2012 : 08:28:30
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Good luck for tomorrow Gav.
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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year 2029
Average Member
590 Posts |
Posted - 21 June 2012 : 10:03:37
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Hi Gav,
Hopefully all went well this morning?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Gavb77
Starting Member
United Kingdom
4 Posts |
Posted - 21 June 2012 : 18:34:30
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| Well thanks all for the good luck messages and advice! All went extremely well this morning and far to easy really - appointment at 9.15, bankrupt at 10.15 and didnt even see the judge! Had a call from the OR this afternoon which i missed so they are ok for me to call them back tomorrow to book in my interview! which is probably the only bit i'm nervous of really, feel a bit releived and a bit numb really, hasnt sunk in yet lol |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 21 June 2012 : 18:45:46
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Glad it all went well Gav.
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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year 2029
Average Member
590 Posts |
Posted - 21 June 2012 : 19:03:31
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Hi Gav,
I'm glad it went well.
The OR interview will probably surprise you too!
Its your first but they've done loads ;-)
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 21 June 2012 : 19:09:00
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Hope the interview goes well Gary - let us know.
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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pcoventry
Junior Member
United Kingdom
235 Posts |
Posted - 22 June 2012 : 19:45:22
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I was like you Gary, It turned out to be one of the easiest things I have ever done. I am glad I did it.
Had some wars with the OR but came out with a sensible solution in the end! |
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year 2029
Average Member
590 Posts |
Posted - 22 June 2012 : 20:06:22
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I've not had any wars so far at all.
I guess it depends on whats at stake I guess. Everything has gone reasonably swimmingly well to date.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 22 June 2012 : 20:19:24
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Glad you got sorted.
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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Gavb77
Starting Member
United Kingdom
4 Posts |
Posted - 29 June 2012 : 14:06:36
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Well another nervous morning and again probably needn't have worried! OR was quite stern initially but after a while was really nice and very helpful, even suggesting things I hadn't put down on my expenditure!! She decided that I won't be getting an IPA as I don't have any spare income which is great as its exactly what I'd hoped for!
I will get a nil tax code which I have to pay over to OR until end of tax year so all in all good news! I am Sooo relieved, just need to wait for the letters and confirmation and can then wait for the discharge!!! and breathe lol |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 29 June 2012 : 14:16:39
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Glad it all went ok Gav, good luck and you know where we are if you need any advice at all.
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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year 2029
Average Member
590 Posts |
Posted - 29 June 2012 : 14:47:41
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Good news Gav!
I'm glad it went so well.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Topic |
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Just about to go Bankrupt - Question for future
